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Union Budget
Union Budget 2014: Tax relief limit is now INR 2.5 lakh; is it enough, asks disappointed salaried class
Union budget 2014-2015 is out in the public now. The salaried class people who were expecting some huge income tax relief have their dreams shattered.

Commoners who rely on their income to run their kitchens were expecting the finance minister to raise the existing tax exemption limit from Rs 2 lakh to Rs 4 lakh -Rs 5 lakh to tackle the pressure of rising inflation. However, the FM gave just a nominal relief by raising the tax exemption limit to Rs 2.5 lakh.

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Though, the senior citizens have some reasons to smile with the FM giving them income tax relief up to an annual income of Rs 3 lakh.

Salaried class people have expressed their disappointment over the marginal rise in the tax exemption limit and asking the FM, is it enough? 

Nageshwari Shetty, who work as a content developer in private sector was expecting the exemption limit to go upto Rs 3- Rs 4 lakh, but she is disappointed with the final outcome.

She said, "You know the reason why people were expecting Rs 5 lakh (tax exemption), is because of increasing rate of inflation. Arun Jaitley had promised to exempt it up to Rs 5 lakhs only, but at the end of the day things got totally changed. And I feel the presented figure won't help me to save even a single penny out of my salary, 'Ache din aye nahi' (good days have not come)."

Sagar Pradhan, who works in private sector partially second the words of Mrs. Shetty. He said, " Some more exemption would have been better for us. But I think the exemption hadn't been extended upto Rs 5 lakh because economy might suffer of it. But raise in 80C cap limit will attract investors at very good extent."

Vipin Kumar Verma, who works in a software firm in Gurgaon, sees things partially good and partially bad. "Rise in tax exemption limit was much expected but an increase Rs 50,000 would not help as much as inflation was hitting us for the past few years so badly. This rise would not suffice, but it will let lower and middle men to take home more salary by saving Rs 5000 year in a tax that is equivalent of 416.67 per month. But raising cap limit on 80C is definitely a welcome move as that would help people to save more to fight inflation in future."

People working government sector are also not much happy with the tax exemption. Professor at a government run journalism institute, Surya Prakash, divulged his disappointment and stated, "What kind of exemption it has been made? It will help common man nowhere. This budget is not up to my expectations honestly, especially in this case (taxation)."

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